The Competitive Enterprise Institute pegs the annual cost of environmental and other federal regulation at $1.8 trillion. A study cited by the U.S. Chamber of Commerce predicts the Environmental Protection Agency’s new mercury standards will cost 215,000 jobs by 2015. Regulatory relief is essential to boosting the economy.

It’s fruitless to discuss the income gap without also discussing the education gap. College graduation rates have barely increased over the past 15 years, despite the accelerating transition to a knowledge economy. Nationwide, 15-20 percent of American adults don’t have a high school diploma.